Intercontinental Exchange (NYSE:ICE) SVP Sells $1,086,824.00 in Stock

Key Points

• Insider sale: Senior Vice President Douglas Foley sold 7,300 ICE shares for approximately $1.09 million, reducing his ownership by 27.69% to 19,063 shares.
• Quarterly performance: Intercontinental Exchange reported $1.90 in quarterly EPS, beating estimates by $0.06, while revenue rose 4.8% year over year to $3.61 billion.
• Market outlook: ICE shares recently traded at $150.35, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $183.33; institutional investors own 89.3% of the stock.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the sale, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Intercontinental Exchange Trading Up 0.4%

NYSE ICE traded up $0.60 on Friday, hitting $150.35. The company's stock had a trading volume of 3,132,055 shares, compared to its average volume of 4,047,279. The company's 50-day moving average is $139.47 and its 200 day moving average is $152.99. The firm has a market cap of $84.40 billion, a PE ratio of 21.24, a PEG ratio of 1.48 and a beta of 0.92. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. Intercontinental Exchange's revenue was up 4.8% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent research reports. UBS Group reissued a "buy" rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen reissued a "buy" rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Barclays restated an "overweight" rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler decreased their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Finally, Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average target price of $183.33.

Institutional Investors Weigh In On Intercontinental Exchange

A number of hedge funds have recently added to or reduced their stakes in ICE. BlackRock Inc. acquired a new position in Intercontinental Exchange in the second quarter valued at approximately $6,245,085,000. Deutsche Bank AG acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $288,560,000. Perigon Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $4,259,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $918,000. Finally, Phillips Wealth Planners LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $563,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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